Distributor Cinram has entered administration following the loss of a Universal Pictures contract in June. Universal reportedly switched to Sony DADC.
Cinram, based in Aylesbury, distributes major album releases by UK independent labels.
Administrators Mercer & Hole said its corporate restructuring team is working with the directors to prevent the closure of the site at Aylesbury and save the jobs of those employees who remained with Cinram since the end of June. It is expected that operations will continue during the administration process, while negotiations with potential purchasers of the business continue.
Cinram reportedly had to lay off 81 workers earlier in the summer, while 29 staff members transferred to Sony DADC, based in Enfield. A further 118 members of staff are still employed at Cinram.
Mercer & Hole’s Steve Smith commented: "The joint administrators, assisted by Cinram’s dedicated management team, intend to continue to service client contracts following our appointment as administrators while a sale of the business remains possible. The sale of the business will be in the interests of all those connected to Cinram, and will provide continuity of service for the company’s clients."
Cinram specialises in the home entertainment and media industry and has 40 years of experience in the sector.